Paramount Energy and Commodities Trading Oil Above the $60 Price Cap

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Geneva-based trader named Paramount is being investigated by Swiss authorities. It's one of the first known efforts by European country to investigate compliance with Western sanctions on Russian oil. Switzerland put a $60 price cap on barrels of Russian oil after the Ukrainian invasion. The type of crude that Paramount specializes in, called the Espo blend, has consistently traded above that cap.

Israel’s raid on the West Bank reignites fears of escalating violence, Switzerland is looking into potential Russian sanctions violations and we continue our series on the Congo Basin with David Pilling, the FT’s Africa editor. Plus, meme stock traders shop for Bed Bath & Beyond.

Mentioned in this podcast:

Switzerland questions oil trader over sidestep of Russian sanctions

In search of the ‘village of the elephants’, deep in the central African rainforest

Eight injured after car rams pedestrians in Tel Aviv, say police

Investors spend $200mn on ‘worthless’ Bed Bath & Beyond shares

Today’s FT News Briefing is produced by Manuela Saragosa, Fiona Symon and Josh Gabert-Doyon. Mixing by Simon Panayi. Additional help from Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.